Market Areas > Corporate Finance > Unclaimed Property

Unclaimed Property Compliance: Top 10 Techniques to Manage Risk and Minimize Exposure

Course Description:

Did you know that there’s more than $25 billion in unclaimed property being held by state property departments across the country?

In fact, collections of unclaimed payables and credit balances are at their highest levels ever and continue to grow rapidly as states ramp-up their awareness, audits and enforcement efforts. Not only because states face burdensome budget deficits, but because only 10 percent of businesses currently comply with unclaimed property laws.

So, how much is at stake?

Failing to comply with state unclaimed property laws could expose private and public companies alike to interest, penalties, and even criminal liability. In fact, the Uniform Unclaimed Property Act provides for penalties of up to $25,000 plus 25 percent of the property’s value, and 12 percent interest on penalties.

Learn how to avoid steep statutory fines, predict disbursements and stay in compliance with every state for every property type in this information-paled CCM audio conference. Forty-two states have fall deadlines, so now’s the time to ensure you’re in compliance.

A must for every AP pro, in this comprehensive program, you’ll learn key techniques to manage your risk, minimize your exposure, and you’ll learn best practices on how to:

• Streamline your company's unclaimed property policies and procedures
• Identify hidden unclaimed property obligations in your company
• Recognize unclaimed property audit red flags on your reports
• Prevent unclaimed property fraud in your company
• Successfully manage an unclaimed property audit

During this critical session, you’ll also learn:

• The basics of unclaimed property compliance
• Which types of property must be reported
• Where and when unclaimed property should be reported and remitted
• How to make sense of the dormancy periods and when they should be applied
• Strategies to help you meet deadlines and extensions
• What formats and methods of delivery you can use to report and remit unclaimed property
• Penalties for non-compliance and late filing
• Procedures for data review, last contact mailings and internal due diligence
• Suggested practices if you company receives a state unclaimed property audit notice
• Best practices for minimizing unclaimed property liability

Featured Faculty:

Karen Anderson, Senior Compliance Advisor, Abandoned Property Services, LLC

Karen Anderson has been involved in the unclaimed property compliance industry for over 20 years. As a member of the policy staff of a former Illinois Governor, Karen was assigned to guide policy and programs relating to state business regulation. For five (5) years, Ms. Anderson served as Illinois' Unclaimed Property Administrator and later served as the first Director of the National Association of Unclaimed Property Administrators (NAUPA). Anderson holds a law degree from Loyola University of Chicago.

Ms. Anderson services at the Treasurer on the Board of the Unclaimed Property Professionals Organization (UPPO) and is a member of UPPO’s Finance and Bylaws Committees. Karen is a member of the Securities Transfer Association (STA) unclaimed property committee and the NAUPA Uniformity and Standardization Committee.  She frequently speaks at industry association conferences and writes articles for trade publications. Anderson holds a law degree from Loyola University of Chicago.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

CEU:

Receive 1.5 CPE credits by attending the live Audio Conference! CCM is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org Program Level: Intermediate Prerequisites: This course is for participants with some exposure to the subject. Advanced Preparation: None Delivery: Group Live CPE Credits: 1.5 Recordings of the program do not qualify for CPE credits. For more information regarding administrative policies such as complaint and refund, please contact our offices at 877-900-C4CM (2426).

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